Pakistan Revenue
ISLAMABAD: Gwadar Free Zone has become practically operational with the first consignment clearance by Pakistan Customs, a statement said on Wednesday. According to the statement, Pakistan Customs has facilitated the clearance of the first import cum export consignment by M/s. HK Sun Corporation limited, which will be further processed in Gwadar Free Zone established under […]
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ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) on Wednesday said that private companies especially startups are allowed to offer ownership right to their employees as non-monetary compensation for their intellectual services and promotion of their business. Employee Stock Option Plan (ESOP) is a popular method of attracting, motivating, and retaining employees. Stock Option Plans […]
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The Karachi Chamber of Commerce and Industry (KCCI) has called upon the Federal Board of Revenue (FBR) to address challenges in the business registration process, emphasizing the need for streamlined options in the IRIS registration form.
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ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday recommended to present restructuring plan of Pakistan International Airlines Corporation Limited (PIACL) before the federal cabinet after reconciliation of tax liabilities. Sources in Large Taxpayers Office (LTO) Karachi said that billions of rupee as tax liability was pending against the PIACL. Federal Minister for […]
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KARACHI: The benchmark KSE-100 index fell by 451 points on Wednesday owing to selling pressure witnessed during the day. The index closed at 43,954 points as against previous day’s closing of 44,404 points showing a decline of 451 points. Analysts at Arif Habib Limited said that the KSE-100 benchmark index lost 647 points during the […]
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KARACHI: Central Depository Company (CDC) and National Institutional Facilitation Technologies (NIFT) have signed an agreement to enable digital payments through NIFT ePay. The collaboration will enable the investors to use NIFT ePay services for investing into Mutual Funds using CDC’s digital platform” “Emlaak Financials”. Furthermore, the solution will also be facilitating CDC’s IAS account holders […]
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KARACHI: The Pak Rupee gained 15 paisas against the dollar on Wednesday owing to lower demand for import payment. The rupee ended Rs153.18 to the dollar from previous day’s closing of Rs153.33 in the interbank foreign exchange market. Currency dealers said that importers were cautious in placing orders for foreign purchases due to rising cases […]
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ISLAMABAD: Federal Board of Revenue (FBR) has collected Rs24 billion as withholding tax on purchase of immovable properties during tax year 2020. According to collection statistics for tax year 2020 released by the FBR on Tuesday revealed the withholding tax collection on purchase of immovable properties increased to Rs24 billion as compared with Rs13.50 billion […]
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ISLAMABAD: Federal Board of Revenue (FBR) has removed additional customs duty on import of auto disable syringes with or without needles. The FBR issued SRO 367(I)/2021 dated March 30, 2021 and amended the SRO 572(I)/2020 dated June 30, 2020. According to the latest notification the additional customs duty shall not be collected on the import […]
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ISLAMABAD: The income tax collection on cash withdrawal from banking system fell by around 52 percent during tax year 2020 following return filers allowed tax free transactions. According to statistics released by the Federal Board of Revenue (FBR) the collection of income tax under Section 231A of Income Tax Ordinance, 2001 was at Rs15.17 billion […]
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